American States Water releases second-quarter earnings report

American States Water Company in San Dimas has reported earnings of $0.64 per common share for the second quarter, ended June 30. According to the report,  "The $0.11 per share increase in reported diluted earnings for the second quarter of 2009, as compared to the same period of 2008, included a $0.06 per share unrealized gain on purchased power contracts during the three months ended June 30, 2008."  In May, AWR's subsidiary, Golden State Water Company, reached a settlement agreement with Mirant Trading and recorded the settlement proceeds of $1 million as a reduction to legal costs.  There was no similar gain in the same period of 2008, according to the statement.  Pretax operating income through AWR's contracted services subsidiary, American States Utility Services Inc., increased by $1.6 million as compared to the second quarter of 2008 due primarily to an increase in special construction projects at Fort Bliss and the military bases in Virginia, and improved performance at Fort Jackson and Fort Bragg military bases, the statement concludes.